South Eastern Economic Development Corporation (SEED) closed six loans amounting to net $875,000 in Rhode Island. The grants made it possible for businesses to get started, continue operations, and purchase real estate. So, businesses collectively can create 19 new jobs.
The fund will help to create the much needed Rhode Island jobs and will allow businesses to grow. ‘Attwater’ got $474,000 as SBA 504 loans under SEED. With it, the company would start a bed and breakfast service by purchasing a 9,362-square-foot building in Newport and will create six new jobs. ‘A-1 Paving’ too received $209,000 as SBA 504 loans to buy 9,760-square-foot building at 113 Schoolhouse Lane. It will create four more jobs.
Other companies that received funds are ‘Learning Garden’ that got $76,000 under SEED’s Revolving Loan Fund to purchase a 3,620- square-foot building at 295 Warwick Neck Ave. It is going to register seven new jobs. ‘Stock Culinary Market, LLC’ found $50,000 under SBA Micro Loan Program to start Jan Dane’s culinary retail store. The project’s location is at 756 Hope St. in Providence and will create two new jobs. ‘Castle Awards, LLC’ found a $36,000 loan under Micro Loan Program of the SBA. ‘Bluemoonstone Creations’ got $30,000 under SBA Micro Loan Program to start home-based jewelry business.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com